Employee benefits to be discussed

Tuesday

Jul 9, 2013 at 10:54 AMJul 9, 2013 at 10:56 AM

Christy Hart-Harris

charris@thedailyreporter.com

COLDWATER — Since its passing in 2010, many aspects of the Patient Protection and Affordable Care Act are now in effect. This year is significant due to health insurance coverage expansions through Medicaid—in participating states— and with insurance exchanges taking effect in 2014. Additionally, health plans, providers, employers, and consumers will be confronted with an array of provisions this year.

This year, wages and compensation—earned after Dec. 31, 2012—above a set threshold amount are subject to a Medicare Payroll tax increase of 0.9 percent.

A per plan year cap on Flexible Spending Accounts of $2,500 has also been in effect this year.

Perhaps one of the most debatable in recent years is the mandated contraception coverage. According to the Center for Health Care Research and Transformation, "Plans beginning or renewing in 2013 must provide coverage of certain contraceptives with no cost sharing as part of preventive health services except for grandfathered plans and certain religious employers."

Many more changes will be taking effect from now through 2016. Therefore, on July 11, from 7:30 to 9 a.m. at the KCC Grahl Center, 125 Seeley St. room 125, a free Networking and information session for all local employers is being offered by Branch Employers' Community Alliance. Gerald W. Vander Wall III, Associate at Miller Johnson, Attorneys and Counselors, will discuss employee benefits and executive compensation to all attendees.

For more information contact Missy Lafferty at 278-0206 or by email at beca.employerteam@gmail.com.